Manufacturing Industry
Personal income levels and growth rates vary widely by state.(Cahners Economics)
Building Design & Construction, September, 1997 by Delano, Daryl
Personal income growth is one of the most important fundamentals driving consumer spending. Employment growth rates and confidence levels are important, but without the dollars to spend, consumers are constrained to the level of their credit limits. And consumer spending growth is the most important determinant of the pace of U.S. economic growth, since it represents slightly more than two-thirds of the nation's GDP.
Last year, disposable personal income growth totaled 5.4 percent (2.9 percent in inflation-adjusted terms). But, of course, this is an average, and with any national economic statistic, there's a significant amount of regional variance. The U.S. Commerce Department's Bureau of Economic Analysis (BEA) tracks these regional differences and has...
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